Fed Govt woos IOCs on host community’s trust fund

The Federal Government has sought the collaboration of international oil companies (IOCs) operating in the country to implement Host Community Trust Fund.

The government also called for partnership with the IOCs in the efforts to reduce gas flaring and address environmental and health issues in the Niger Delta region, in line with the global commitment to end gas flaring by 2030.

Minister of Niger Delta Development, Engr. Abubakar Momoh, reached out in his keynote address at a collaborative meeting with International Oil Companies and development partners in Abuja.

The Minister at the meeting sought support for the development of the Niger Delta region.

He emphasized the importance of collaboration and synergy between critical stakeholders, especially IOCs and development partners, in achieving the region’s development goals.

A statement issued by Osigwe Omo-Ikirodah, Special Assistant to the Minister on Media, explained that the meeting was aimed at addressing, brainstorm, and share the visions of the Bola Tinubu-led administration with a focus on promoting greater synergy for enhanced results in the overall development of the Niger Delta region.

According to the statement, the minister outlined the Ministry’s commitment to fast-tracking development through extra-budgetary provisions, despite financial shortfalls.

He stressed the need for collaboration with IOCs to overcome the challenges and effectively discharge the Ministry’s mandate.

The areas of concern the minister harped on included peace and security in the region.

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